With the same message of trying increase the financial capacity of its members, Cashspina is another scam of peer to peer donation.
One of its claims is that its members will get 100% extra of their donation in less than 14 days. There are no proof as to how the scheme hopes to generate such income to pay its investors
Cashspina is a group of voluntary donors, driven by a sincere passion to help one another through donations. As we donate, others also donate to us…together, we all make an impact, the message on its website reads.
It is also evident that the scheme borrowed some ideas from its predecessors , advising participant on what monies to donate into the system. One of the guideline is to not donate borrowed money or school fees or house rent or your last cash. Donate with only spare cash and if the money is not available in your account to pay instantly.
The is sure one of the tricks employed by the early starters to lure participants into the scheme. The domain for the site was registered just this year 2017 and there are no information on who owns and runs the scheme.
Just recently, the Nigerian Securities and Exchange Commission, SEC exposed and declared Tine God Networks Limited as a Ponzi scam. SEC said Tine God Networks Limited claimed to be an Investment Company that engages in Business Development in Commercial sectors of the economy and also issues bonds to raise funds for its investment activities.
There no information on who owns and runs Cashspina. The domain was registered on the 12th of February, 2016.
Cashspina is one of those time bomb that will soon explode and collapse.